MECU


Overview / Commentary
410-752-8313
One South Street
Baltimore, MD 21202

MECU is a Maryland-based credit union whose acronym stands for Municipal Employees Credit Union. Membership eligibility has expanded since its founding and includes consumers who live, work, or worship close to the Baltimore area. The credit union offers personal and business banking services, as well as insurance and investment planning guidance.

On the personal banking side, MECU makes depository products like checking, savings, money market, and CD accounts available, as well as lending products like mortgages, home equity lines, and vehicle loans. Checking account options all come with free online bill pay and direct deposit and differ based on interest and reward incentives. Several checking accounts offer ATM refunds, and one account offers cash back in exchange for debit card purchases. Savings account offers feature cash bonuses, and fees are waived on minors’ accounts. A teacher-designed savings account helps teachers save and plan for the summer months when there is no income stream. Money Market accounts have minimum initial deposit requirements and offer increased earnings for higher balances held. MECU’s Certificates of Deposit (CDs) and IRA CDs are available in term lengths that range from 9 to 60 months and offer flexible accounts that allow a penalty free withdrawal and/or a penalty-free rate bump.

MECU online banking provides a safe and secure way for members to access their accounts and transfer funds, check balances, pay bills, and update their account information. The credit union has also released mobile banking apps that make banking on the go convenient and easy from select smartphone and tablet devices.

MECU was established in 1936 to meet the banking needs of Baltimore’s municipal workers. Since then its membership has expanded, and the credit union serves it through multiple branches located in the Baltimore area, where its headquarters are located.

Field of Membership Restrictions

Membership in MECU is open to anyone through joining the American Consumer Council through the credit union. Membership is also open to those who live, work, attend school, or worship in the City of Baltimore, Maryland and to employees of Dixie Manufacturing, Alter Communications and to over 100 Select Employer Groups in the Baltimore area.
See current membership details

Related Posts

15-Month CD, 3.00% APY, Capped At $5K - 6/4/2019

Promotional Annual Percentage Yield (APY) of 3.00% effective as of 05/21/2019. 15-month CD is a limited-time offer and available as Regular, Traditional IRA, or Roth IRA CDs. APY and promotion period are subject to change at any time without notice. A $100 minimum opening deposit is required to earn interest and to obtain the promotional APY. Maximum deposit allowed is $5,000 per member. Principle funds in excess of the maximum will automatically be transferred to Member’s Primary Savings account. One CD per member. At maturity, CD will roll into an 18-month term. A penalty will be imposed for early withdrawal before maturity.

10-Month CD, 2.50% APY - 9/24/2018

MECU offers membership through American Consumer Council. Minimum deposit $500 Maximum deposit $250,000 NEW MONEY ONLY - Money that has not been on deposit at MECU during the past 90 days Available as Regular, Traditional IRA, and Roth IRA Limited-time offer

3% APY 36-Month Bump-Up CD Special, Baltimore MD - 7/15/2018

8-Month CD at 2.10% APY Minimum deposit $500 Maximum deposit $100,000 Easy and secure online access Available as Traditional CD 36-Month Bump Up CD at 3.00% APY Minimum deposit $500 Maximum deposit $250,000 Lock in an incredible rate with the option to raise your rate once during the term Easy and secure online access https://www.mecu.com/CDspecials

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Reviews (3)

One of the Better Credit Unions

Posted by: EarlMartin | Feb 5, 2015

I have a credit union account with MECU of Baltimore and it has overall been a great experience. At MECU you will earn higher interest on your money on nearly every credit union I have researched which is a great thing being that will all ultimately want our money to grow. MECU has an abundance of financial products to help you with any economic goal you may want to obtain. The last major positive with this credit union is that they are devoid of many fees that other banks and credit unions often have. The only negative point I would like to make about MECU is that their website seems to be a little behind the times. It seems like they are able to offer such good rates and excellent financial products at the expense of having a prehistoric website. Nevertheless, I have decided that this is an awesome place to invest my money and I will be a member for a very long time. Anyone who is looking for a place to put their money should definitely look into MECU of Baltimore to see if they are eligible.

Scam And Rudeness

After being a customer for 14 years, I have finally had enough of being ripped off by excessive fees. The folks that run MECU are the same folks that have run the city of Baltimore into the ground. I'm tired of rude employees as well, I will be taking my business else where! The rudeness goes all they say to the top, they act like they're doing you a favor! Done! As the last person put it they dont even deserve a one star rating!

VERY RUDE EMPLOYEES AT DUNDALK BRANCH

Posted by: Anonymous | Nov 14, 2011

Hello,

I have been a Full member over a month now, and prior to doing this, I have been exposed to rude, and unprofessional employees at the Dundalk location. I began to work with the Branch Manager for my business, but this past weekend there were no branch managers on duty, so I was forced to go to the tellers. There was a teller on loan from her main facility, and she gave me attitude, refused to accept my deposit checks for my Mother, who is on my account; plus she constantly rolled her eyes, and did not say thank you or anything. So with that said, I will be moving my account to another Credit Union ASAP.I have left messages for either branch managers to contact me so I can get the process completed. I will NEVER do business with MECU again, and neither will any of my friends, family or co-workers.


You need to get your employees in line or give them their PINK SLIPS. (They don't even deserve a 1 star rating).



Health
B+

Health Grade Components

Overall
NCUA #66787
Year Chartered1936
Employees283
Primary Regulator
Profit Margin
Return on Assets - YTD0.46%
Return on Equity - YTD4.31%
Annual Interest Income$11.9MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$1.20B$1.18B
LoansQ1 2019vs Q1 2018$755.2MM$741.1MM
DepositsQ1 2019vs Q1 2018$1.03B$1.01B
Equity CapitalQ1 2019vs Q1 2018$126.9MM$135.6MM
Loan Loss AllowanceQ1 2019vs Q1 2018$11.7MM$11.6MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$14.0MM$14.3MM
Real Estate OwnedQ1 2019vs Q1 2018$399.00K$810.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

15-Month CD, 3.00% APY, Capped At $5K

Carpline   |  
Promotional Annual Percentage Yield (APY) of 3.00% effective as of 05/21/2019.
15-month CD is a limited-time offer and available as Regular, Traditional IRA, or Roth IRA CDs.
APY and promotion period are subject to change at any time without notice.
A $100 minimum opening deposit is required to earn interest and to obtain the promotional APY.
Maximum deposit allowed is $5,000 per member.
Principle funds in excess of the maximum will automatically be transferred to Member’s Primary Savings account.
One CD per member.
At maturity, CD will roll into an 18-month term.
A penalty will be imposed for early withdrawal before maturity.

Rates

Rates for MECU are currently being reviewed.

Locations


Cities: Baltimore, Catonsville, Cockeysville, Dundalk, Pikesville

Baltimore Branches
Branch Office1 South StBaltimore, MD 21202
Branch Office2337 E Northern PkwyBaltimore, MD 21214
Branch Office312 Martin Luther King Jr BlvdBaltimore, MD 21201
Branch Office8507 Loch Raven BlvdBaltimore, MD 21286
Branch Office6669 Security Blvd Ste 5Baltimore, MD 21207-4015
Branch Office4801 Seton DrBaltimore, MD 21215-3211

Catonsville Branches
Branch Office5910 Baltimore National PikeCatonsville, MD 21228

Cockeysville Branches
Branch Office570 Cranbrook RdCockeysville, MD 21030-3702

Dundalk Branches
Branch Office7220 Holabird AveDundalk, MD 21222

Pikesville Branches
Branch Office1777 Reisterstown RdPikesville, MD 21208

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